If you do not subscribe to Remodeling magazine, you may not know this but, on average, minor kitchen remodels return about 78 percent of their cost when the home is sold. Two reasons for this. First, it raises the value of the house, and if you are lucky, raises the value more than what you spent. Second, if you have kept the receipts, and lived in the house three of the five years before it was sold, you can deduct the amount that you put into the remodeling from your taxable earned income from the house.
The remodel kitchen and custom kitchens are gaining in popularity all of the time. They are the number one room that homeowners decide to remodel. It can be a simple process of adding granite countertops, or it can be a bit more intensive, not only doing kitchen countertops, but kitchen cabinets, a new sink, a new fridge and a new stove. Kitchen countertops and stoves are really common replacements. In fact, the White House went through and replaced all of its stoves back in the 1950s. Prior to that, believe it or not, they were still using fire places for all of their cooking needs. That is half way through the 20th century!
Before you decide that a kitchen remodeling is for you, take this into consideration. The average kitchen renovation should last anywhere between 12 to 15 years. This is not talking about a construction crew in there for every day, 14 years straight. It is more a step by step, puzzle piece process. Think of it as installments. First you do all of the big construction changes. Take out a wall. Move the sink to the other side of the room. Put an island in the middle. Install the track lighting and shag carpet. Then, once all of the heavy stuff is done, take a little time. Pay some of the bills, recoup some of the funds, work on that debt. Then, when you are comfortable, you can get the new stove put in. And then the wood fired pizza oven. And then the fridge. One step at a time, right?
So when thinking about the coveted kitchen remodeling, there are plenty of things to consider. Do you just need new kitchen countertops, or will it be the whole banana. Oh, and if you ever decide to remodel the bathroom, remember that the average toilet flushes in the key of E flat. You’re welcome.